More Benefits Stats than You Can Count

More Benefits Stats than You Can Count

WorldatWork recently published the results of their 2017 Inventory of Total Rewards Programs and Practices report. The ongoing survey of members gathers information about prevalence of rewards offerings in the workplace. The report contains 214 pages of data submitted by approximately 850 companies in a range of industries, with operating units in over 20 countries.

The report identifies benefits offerings that are increasing and decreasing among the organizations that responded. The largest increases include:

Telemedicine – 73% of respondents now offer Telemedicine as part of a healthcare plan or as a stand alone service, up from 49% in 2016.

Declining benefits trends identified in the report include personal leave (66% of respondents), down by 8% from the previous year. Employee stock purchase plans were offered by 24% of companies surveyed in 2016, but only 18% in 2017. Formal performance appraisals are still prevalent with 91% of respondents, but trending slightly downward from 94% the previous year.

The 2017 report provides an intensive look at Health and Wellness benefits provided to employees:

The report includes information on nearly every benefit or compensation category imaginable, including base pay, overtime, bonus policies, and incentives. There’s also granular information on a range of topics including employee recognition, development opportunities, and individual health benefits.

Other interesting (and curious) statistics include:

26% of surveyed companies now offer pet insurance as a benefit, up from 23% last year.

39% provide company cars, down from 42% in 2016

Hiring bonuses have increased slightly from 66% to 67% of respondents

The prevalence of frequent performance check-ins is increasing, from 42% to 50% of respondents.

77% of organizations surveyed provide appreciation events or outings for employees. 30% celebrate major family events for individuals.

Tuition reimbursement programs are offered by 85% of responding companies.

84% offer informal coaching or mentoring for employees. 52% have a formal program.

50% of companies offer paid time off for volunteer work, up from 46% in 2016.

59% report that they offer healthy vending machine options.

WorldatWork is a global association for HR management professionals, with headquarters in Scottsdale, AZ. The report is available as a free download on their website.

By GEA Staff|2018-05-02T15:17:34-04:00May 2nd, 2018|News|Comments Off on More Benefits Stats than You Can Count